Wellingtonians are unlikely to see any big changes to the transport system until the tail end of the first decade.
Today councillors voted to endorse the package at a full council meeting.
Wellington City Councillors have unanimously voted to support the Let's Get Wellington Moving (LGWM) Indicative Package at a full Council meeting today.
They also voted to approve council's share of funding to proceed with the next steps, including an early delivery programme and business case development.
"I'm very pleased that Wellington city councillors showed their unanimous support today for the LGWM package," mayor Justin Lester said.
"The decision today unlocks funds already set aside for LGWM in our 2019/20 annual plans and commits the council to fund their share of the next phase on a 60:40 basis between central and local government.
"For the last four decades Wellington has failed to grasp a series of transport opportunities intended to future-proof and safeguard our city from congestion.
"Today's unanimous decision, along with unanimous support from Greater Wellington Regional Council and the Government, shows strong political support for LGWM.
"We know transport is changing and we want to make the most of the attributes that make Wellington a great place to live, with strong active and public transport options, including mass transit across the city.
"I am 100 per cent committed to making this decision today a reality. The city cannot afford any other alternative."
Councillor Chris Calvi-Freeman, who holds the transport portfolio, said the plan was a "once in a generation opportunity to transform Wellington transport".
"Doing nothing would condemn our city to ongoing traffic congestion and reliance on fossil fuelled transport, and that would be disastrous. The LGWM proposals will move us towards a more sustainable and even more liveable city."
The early delivery programme includes improvements to central city walking area, safer speeds in certain areas, and bus priority measures.
The New Zealand Transport Agency is now expected to take a paper to its board for consideration in July. If approved it will be a green light for the next steps.